Spanish property sales and the price reduction game

Original article here

Impact Interior Design Solutions, recently staged a residential property in Fenton, Michigan. Despite a high asking price, a depressed market and the less-than-optimal condition of the home, the seller received and accepted a profitable offer in less than three weeks.

Darla Rowley, President of Impact notes that, "The layout was unusual, and there were some issues with the condition of the home. Our investor clients were very proactive in utilizing our services to address the biggest condition problems, namely the custom faux finishes in the dwelling." Impact provided color consultation for those spaces, resulting in a more neutral décor while adding much-needed dramatic appeal.

Through furnishings and décor improvements, professional staging techniques created new focal points and conversation zones that helped distract buyers from some of the less-than-perfect attributes of the home. By putting emphasis on the positive attributes of the house—lake view, fireplaces, and spaciousness-the seller was able to obtain an offer at close to asking price, in less than three weeks.

Rowley continues, "Those selling in today’s market conditions must consider some type of staging support. If a property is not a marketable product, then sellers will be forced to play the aggressive price reduction game. We are glad to see that the home staging trend appears to be catching on with local investors. These sellers are more proactive in the marketing process and continue to understand the value of staging services as a means to attracting the right offers. Margins for investors are leaner, so it is more important than ever to make sure investment houses turn quickly."